He cautioned against dehumanization through technology, advocating for emotional depth in creative expression. Mukesh Ambani highlighted the media industry’s potential $100 billion growth.

MUMBAI: Today, when the world is looking for new ways of storytelling, India has a timeless treasure that empowers us to build an Orange Economy of content, creativity, and culture, thus offering a global platform for entertainers and investors to catapult India’s position in the world to the third-largest economy in the near future, said PM Narendra Modi on Thursday while addressing the world summit of audio-visual and entertainment industries.
Cautioning against the potential dehumanisation resulting from technological advancements in the creative industries, Modi stressed the necessity of retaining emotional depth and responsibility in human expression. “We must not turn humans into robots; instead, we must make them more enriched and sensitive,” said the Prime Minister, noting that genuine progress should factor in the arts—including music, dance and painting—not just information, technology, or speed.

“Indian films have now reached audiences across the globe. Today, Indian films are screened in more than 100 countries. Foreign audiences are not just watching Indian films but also trying to understand them. A notable aspect of Indian cinema is that many international viewers are watching Indian content with subtitles. India has become a global hub for film production, digital content, gaming, fashion, and music,” Modi said.
While stating that India is a world leader in global fintech adoption and the second-largest mobile manufacturer, the scope for creativity on the screen was endless even though the size of the screen was getting smaller with technological advancements.
He allocated Rs 400 crore to build the first Indian Institute of Creative Technology (IICT) in Mumbai, stating that India was capable of offering the world a vast and diverse creative ecosystem. He was speaking while inaugurating the first World Audio Visual Entertainment Summit WAVES 2025. “India’s creative economy will hold a significant share in the country’s GDP. The global animation market is currently worth over $430 billion and is expected to double in the next 10 years. The WAVES summit will open new doors of success for India’s animation and graphics industry,” he added.
Lauding PM Modi’s resolve to be present at the summit despite engagements post-Pahalgam attack, Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said India’s media and entertainment industry was poised to take a $100 billion leap in the next decade against the existing $28 billion value and thus create huge investment and job opportunities. While referring to Pahalgam, Ambani said India’s victory was certain.
The institute IICT is all set to become a national hub for the Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) sector and has already commenced work. “IICT has aligned with a few tech giants for collaborative efforts towards IICT courses. These include NVIDIA, Google, Apple, Microsoft, Meta, Star India, and Adobe,” said union information and broadcasting minister Ashwini Vaishnav. Meanwhile, CM Devendra Fadnavis said Mumbai’s Film City, spread over 500 acres, is being developed into a global centre for next-generation studio ecosystems. Of this, 120 acres will be dedicated to a media and entertainment city focused on animation, visual effects, and gaming, he added.
The IICT is being established by the Ministry of Information and Broadcasting, in strategic collaboration with FICCI and CII, as a National Centre of Excellence on the lines of prestigious IIT and IIM. Mukesh Ambani, Rajanikanth, Shantanu Narayan, Ashwini Vaishnav, and Devendra Fadnavis addressed the gathering that also had over 1000 delegates from across 100 countries. Who’s who from across Bollywood and Tollywood attended the ceremony, with several megastars conducting the inaugural event.
Actor Anupam Kher outlined the vision behind the WAVES initiative. Singers M.M. Keeravani, Shreya Ghoshal, and Mangli performed the welcome song. WAVES advisory board members, including Shah Rukh Khan, Nagarjuna, Mohanlal, Hema Malini, Kartik Aaryan, S.S. Rajamouli, Rajinikanth, Anil Kapoor, Bhumi Pednekar, Ranbir Kapoor, Aamir Khan, Reliance Industries Chairman Mukesh Ambani, and Adobe CEO Shantanu Narayen, shared their thoughts during the event. On this occasion, Prime Minister Modi also unveiled postage stamps in memory of Gurudutt, P. Bhanumathi, Raj Khosla, Ritwik Ghatak, and Salil Chowdhury for their contributions to Indian cinema.